Google sells off more Motorola assetsDecember 11th, 2012 in Technology / Business
Google has agreed to sell manufacturing operations of its Motorola Mobility unit in China and turn over management of a Brazil plant to Singapore-based Flextronics, the companies said.
In a statement Monday, the firms said Flextronics would acquire Motorola's manufacturing operations in Tianjin, China, and will also assume management and operation of its plant in Jaguariuna, Brazil.
"Employees and assets at both locations will transfer to Flextronics after the transaction closes," the statement said.
"The agreement also includes a manufacturing and services agreement for Android and other mobile devices."
"The agreement with Flextronics is an important step forward for us in transforming our overall supply chain into a competitive advantage for Motorola Mobility," said Mark Randall, senior vice president at Motorola Mobility LLC.
The move came as Motorola Mobility confirmed that it is shutting down most of its operations in South Korea as part of a move to consolidate research after being bought by Google this year.
California-based Google said in August that it would lay off about 4,000 employees at Motorola, which it purchased in a deal valued at $12.5 billion, in order to return the company to profitability.
(c) 2012 AFP
"Google sells off more Motorola assets." December 11th, 2012. http://phys.org/news/2012-12-google-motorola-assets.html